Startup India: Number Of Startups Recognised Under Modi Govt’s Ambitious Programme Soars Three Times Nearing 25,000

Startup India: Number Of Startups Recognised Under Modi Govt’s Ambitious Programme Soars Three Times Nearing 25,000Startups in India. (Hemant Mishra/Mint via Getty Images)

In a major boost for Prime Minister (PM) Narendra Modi's ambitious 'Startup India' programme, the total number of startups enrolled under the programme have touched 24,927, which is almost thrice the figure of 8,939 startups enrolled as of March 2018, reports Financial Express.

The Department for Promotion of Industry and Internal Trade (DPIIT) is said to be recognising and enrolling 26 startups per day into the flagship initiative of the Modi government.

Maharashtra with 12,064 followed by 10,272 startups in Delhi and Karnataka with 7,635 startups are the top 3 ecosystems with DPIIT-recognised startups in India.

DPIIT in its Vision document had targeted 50,000 new startups, 20 lakh direct and indirect jobs by 2024, 500 new incubators and accelerators, 100 innovation zones in urban local bodies and seven research parks operational to support innovative startups.

The department had also proposed allocating entire corpus of Rs 10,000 crore Fund of Funds along with enhancing CSR funding to incubators.

DPIIT had also said about establishing an India Startup Fund of Rs 1,000 crore for technology startups and another Rs 1,000 crore in seed funding to startups.